Ameriprise Financial, Inc. (NYSE:AMP) Shares Bought by SpiderRock Advisors LLC

SpiderRock Advisors LLC increased its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 136.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,237 shares of the financial services provider's stock after acquiring an additional 1,867 shares during the period. SpiderRock Advisors LLC's holdings in Ameriprise Financial were worth $1,521,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. JPMorgan Chase & Co. increased its holdings in Ameriprise Financial by 18.6% in the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider's stock valued at $1,685,436,000 after buying an additional 603,267 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Ameriprise Financial by 10.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider's stock valued at $482,588,000 after buying an additional 110,319 shares during the last quarter. Legal & General Group Plc increased its holdings in Ameriprise Financial by 1.4% in the second quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider's stock valued at $351,685,000 after buying an additional 11,060 shares during the last quarter. TD Asset Management Inc increased its holdings in Ameriprise Financial by 18.8% in the first quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider's stock valued at $310,248,000 after buying an additional 111,973 shares during the last quarter. Finally, AGF Management Ltd. increased its holdings in Ameriprise Financial by 35.4% in the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider's stock valued at $215,584,000 after buying an additional 131,844 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

Shares of NYSE AMP traded up $4.38 during midday trading on Friday, reaching $551.99. 384,119 shares of the company were exchanged, compared to its average volume of 423,227. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 1 year low of $330.51 and a 1 year high of $569.47. The stock has a fifty day simple moving average of $484.45 and a 200 day simple moving average of $447.71. The stock has a market cap of $53.55 billion, a P/E ratio of 21.19, a PEG ratio of 0.98 and a beta of 1.34.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Monday, November 4th. Ameriprise Financial's dividend payout ratio is currently 22.73%.

Analysts Set New Price Targets

Several equities analysts recently commented on AMP shares. UBS Group increased their target price on Ameriprise Financial from $490.00 to $555.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. The Goldman Sachs Group lowered Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their target price for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Royal Bank of Canada raised their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Keefe, Bruyette & Woods raised their price objective on Ameriprise Financial from $475.00 to $510.00 and gave the stock a "market perform" rating in a report on Tuesday, October 29th. Finally, Morgan Stanley raised their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $487.67.

Insider Buying and Selling

In related news, insider Gumer Alvero sold 2,325 shares of the firm's stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the transaction, the insider now owns 4,669 shares of the company's stock, valued at $2,409,437.45. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, VP William Davies sold 8,700 shares of the firm's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the sale, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gumer Alvero sold 2,325 shares of the firm's stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the sale, the insider now owns 4,669 shares of the company's stock, valued at approximately $2,409,437.45. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company's stock.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.